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September 11, 2013
10:55 EDTEDSExceed Co. special committee continues evaluation of proposal
Earlier today, Exceed Company announced that the special committee of its board of directors has retained Houlihan Lokey as its financial advisor, K&L Gates as its U.S. legal counsel and Walkers Global as its BVI legal counsel. As previously announced, the special committee was formed to consider a non-binding proposal from its chairman and chief executive officer, Mr. Shuipan Lin and his affiliates (including Tiancheng Int'l Investment Group Limited), HK Haima Group Limited, Wisetech Holdings Limited, Windtech Holdings Limited and RichWise International Investment Group Limited, pursuant to which the consortium members propose to acquire all of the outstanding ordinary shares of the company not currently owned by them in a going private transaction at a proposed price of $1.72 per ordinary share in cash. The special committee is continuing its evaluation of the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that the proposal or any other transaction will be approved or consummated.
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